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Former NBA All-Star Stephon Marbury Joins the Blockchain Bandwagon

Stephon Marbury, the two-time NBA All-Star, becomes the latest sportsperson to get involved with blockchain as he is named as the chairman of the sports blockchain group, an affiliate of Sun Seven Stars Investment Group which is jointly founded by Bruno Wu and the the well-known Chinese hostess and businesswoman Yang Lan.

Marbury, 41. has retired from professional basketball after his Beijing Fly Dragons failed to get into the postseason of the China Basketball Association on February . His “first half” of career came to an end with a final three-pointer and numerous accomplishments under his belt, but he has not walked away from the sports industry.

Marbury starts his “second half” of career by joining a blockchain-focused sports group in late April. “I believe it’s a great undertaking that can do a lot of innovation and exploration in the sports blockchain sector. We will be part of global sports ecosystem, and to remake it.” Marbury said.

The former top player with the New York Knicks will direct operations for the company’s athletes products, content and marketing. According to Xinhua, the sports blockchain group will focus on digital business services, including the development and issuance of digital assets such as sports indices and futures based on big data, and the operation of a B2B digital asset trading platform for sports content, equipment and authorized products,among others.

An increasing number of athletes has joined the blockchain and cryptocurrency bandwagon to endorse many blockchain projects recently. Tennis star, Caroline Wozniacki has become the first female athlete last week to endorse a blockchain product called “Lymbo”, an app that motivates people to exercise. Football legends Luis Suarez, Luis Figo and Michael Owen, as well as boxing heroes Floyd Mayweather and Manny Pacquiao also help promote some ICO projects.

However, the US Securities and Exchange Commission (SEC) has urged investors to exercise caution with celebrity-endorsed ICOs for many times.